My spouse is a medical resident and currently doing a year of research. During this year, she is not able to contribute to her employers 403b or 457b plan. I am trying to determine if she could open up a solo 401k this year - does anyone have any insights or thoughts they'd be willing to share? Below are some additional details:
- She is currently being paid by a T32 postdoctoral training grant and no taxes are being withheld from her pay
- The employers website indicates this is considered a "fellowship payment" by the IRS
- Here is a link to a blog post which discusses this type of income and tax requirements: http://www.gradstudentfinances.org/grad-student-tax-lie-2-you-received-a-1099-misc-you-are-self-employed/
Any feedback would be much appreciated!
- She is currently being paid by a T32 postdoctoral training grant and no taxes are being withheld from her pay
- The employers website indicates this is considered a "fellowship payment" by the IRS
- Here is a link to a blog post which discusses this type of income and tax requirements: http://www.gradstudentfinances.org/grad-student-tax-lie-2-you-received-a-1099-misc-you-are-self-employed/
Any feedback would be much appreciated!
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